I mean, western liberals were calling it Putin’s inflation. And yeah sure, war in Ukraine did contribute to it but the corporations also took advantage of their price setting power.

And in the Russian case it applies much better. If there were no sanctions, Russia would’ve been able to import more from the international markets. And there are also corps with price setting power there as well. Thank the American puppet Yeltsin for that.

Also, notice the complete lack of criticism in the article on the policies of the “independent” Russian central bank? Strange.

They hate sunscreen because skin cancer good apparently

What happened to maximizing shareholder value?

Isn’t this the Nazi tattoos guy?

The question of exchange rate and willingness to accumulate each other’s currencies is the big.

Just looking at ATM transactions. One country (say Russia) will accumulate more of the other country’s currency.

So if more Iranians visit Russia and withdraw cash from ATM. Russia’s Rial balance would be much higher than Iran’s Ruble balance.

Russia can use it to import from Iran. But that requires Iran to have things to export that Russia wants. If Iran has trade/current deficit, Russia will continue to accumulate “excess” Rials.

Another option for Russia would be to invest the Rials in Iran but Russia wasn’t willing to do that (different example) with India and demanding Chinese Yuan instead.

Yet another option would be for Russia to find someone else willing to hold Rials in foreign exchange markets. Eg China (it could be a Chinese business, Government, individuals) has a desire to accumulate Rials to import oil from Iran. But that requires foreign exchange markets to have enough liquidity.

This happens with Dollars too. China has accumulated literally trillions of Dollars for instance. And it’s continued willingness to hold Dollars is the only reason why US has a trade/current deficit.

Its the main issue with local currency payments. Countries can get quite selfish especially under the capitalist system.

Letter MITM attack

Math

He thinks he’s spitting

I don’t think there is any need. Users can block the comm if they want.

Yes the Government is only holding together because of the coalition.

BJP lost, coalition won.

Tbf in case of India, Modi lost his majority and vote share.

The Central Bank has progressively raised rates since the second quarter of 2023 in a bid to control persistent inflation and support the faltering ruble. However, the soaring cost of borrowing is now pushing many companies toward a dangerous debt spiral, with interest payments consuming one out of every four rubles they earn.

Ridiculous they are still keeping that 21% rate, it was somewhat understandable for the first few months after Feb 2022 to reduce capital outflows but they should’ve lowered it soon. Really goes to show that they have the same brainworms western aligned central bankers have on interest rates being a tool to control inflation.

Thing is, in the west, the rates were never this high to cause such carnage (other than under Paul Volcker, another ghoul). Central bank ‘independence’ and its consequences.

I’ll step up to 240V

u/birdflufutures

FEET

Perma-mewing face

you could try showing how much more equal USSR was compared to even the social democratic Europe.

it wasn’t replacing rich with another, sure, high ranking CPSU members had additional privileges like larger apartments or access to imported goods but we now have capitalists owning $100m yachts. Its not comparable.

https://wid.world/data/